Pricing Supplement Dated July 16, 1998 Rule 424(b)(3)
(To Prospectus Dated December 19, 1996) File No. 333-17943
GENERAL MOTORS ACCEPTANCE CORPORATION
Medium-Term Notes - Fixed Rate
____________________________________________________________________________
Agent: Merrill Lynch & Co.
Principal Amount: $10,000,000
Agent's Discount
or Commission: $225,000
Net Proceeds to Company: $9,775,000
Interest Rate: 6.375% per annum
Issue Date: 07/31/98
Maturity Date: 08/01/13
Interest Payment Dates: The 1st day of each month at Maturity,
commencing September 1, 1998 and ending on the
Maturity Date.
____________________________________________________________________________
Calculation Agent: GMAC
Interest Calculation:
/X/ Regular Fixed Rate Note
Day Count Convention:
/ / Actual/360 for the period from / / to / /
/ / Actual/Actual for the period from / / to / /
/X/ 30/360 for the period from 7/31/98 to 08/01/13
Redemption:
/ / The Notes cannot be redeemed prior to the Stated Maturity Date.
/X/ The Notes may be redeemed prior to Stated Maturity Date. (See Below)
/ / Initial Redemption Date:
Initial Redemption Percentage: ___%
Annual Redemption Percentage Reduction: ___% until Redemption
Percentage is 100% of the Principal Amount.
Repayment:
/X/ The Notes cannot be repaid prior to the Maturity Date.
/ / The Notes can be repaid prior to the Maturity Date at the option of
the holder of the Notes. (See Below)
/ / Optional Repayment Date(s):
Repayment Price: %
Currency:
Specified Currency: U.S. (If other than U.S. dollars, see attached)
Minimum Denominations: ___________ (Applicable only if Specified
Currency is other than U.S. dollars)
Original Issue Discount: / / Yes /X/ No
Total Amount of OID: Yield to Maturity:
Initial Accrual Period:
Form: /X/ Book-Entry / / Certificated
Other: /X/ Principal / / Agent
The Notes will be subject to redemption at the option of the Company, in
whole, on the Interest Payment Date occurring on August 1, 2002 and each
Interest Payment date occurring in February or August thereafter at a
redemption price equal to 100% of the principal amount of the Notes upon
at least 30 days prior notice.
